State-owned India Infrastructure Finance Company Limited (IIFCL) introduced its monetary outcomes for fiscal 2020-21, reporting a 250 per cent rise in web revenue on a consolidated foundation to Rs 325 crore, pushed by rising sanctions and disbursements. The firm introduced that its asset high quality improved because it was capable of carry down its web non-performing belongings or NPAs to five.4 p.c within the monetary 12 months 2020-21, from 9.75 p.c in fiscal 2019-20.
In an announcement issued on Tuesday, June 22, IIFCL mentioned it goals to cut back the NPAs to round 4 p.c within the present monetary 12 months 2021-22. The firm’s money restoration in NPAs elevated to greater than Rs 625 crore within the fiscal 12 months 2020-2021 – as a lot as 92 per cent increased than final 12 months.
Established in 2006, the wholly-owned authorities group caters to the long-term financing wants of the infrastructure sector within the nation.